(A) Establishment of the County Riverboat Wagering Tax Revenue Sharing Fund. Pursuant to I.C. 4-33-13, there is hereby established the County Riverboat Wagering Tax Revenue Sharing Fund.
(B) Administration. The Fund shall be administered by the County Auditor.
(C) Appropriations. Expenditures from the Fund shall be subject to appropriation by the County Council.
(D) Deposits. Pursuant to I.C. 4-33-13, all funds received from the Riverboat Wagering Tax Revenues shall be deposited into the Fund.
(E) Disbursements. The Auditor shall disburse from the Fund the share each city and town in the county is entitled to receive from the distributions received from the state.
(F) Authorized expenditures. Pursuant to I.C. 4-3-33- 13-5, no moneys received by the county as part of its distribution from the Riverboat Wagering Tax Revenues shall be expended except for the following purposes:
(1) To reduce the property levy of the county;
(2) To fund additional property tax replacement credits in property tax increment allocation areas;
(3) To fund sewer and water projects, including storm water management;
(4) For police and fire pension; and
(5) To carry out any governmental purpose for which the fiscal body of the county appropriates the riverboat wagering tax revenue revenues; including economic development purposes.
(G) Governing law. The Fund shall be administered consistent with and subject to the provisions of I.C. 4-33-13-1 et seq., as may be amended from time to time.
(H) Effective date. This section shall be effective upon passage by the Board of Commissioners of the county.
(Ord. 2006-02, passed 2-6-2006)